State Street Corp Has $3.46 Billion Position in Broadcom Limited (NASDAQ:AVGO)

State Street Corp raised its position in shares of Broadcom Limited (NASDAQ:AVGO) by 3.8% during the first quarter, Holdings Channel reports. The institutional investor owned 15,805,653 shares of the semiconductor manufacturer’s stock after buying an additional 583,498 shares during the period. State Street Corp’s holdings in Broadcom Limited were worth $3,460,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after buying an additional 1,746,144 shares in the last quarter. BlackRock Inc. boosted its position in Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after buying an additional 22,307,935 shares during the period. Wellington Management Group LLP boosted its position in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after buying an additional 1,519,598 shares during the period. Jennison Associates LLC boosted its position in Broadcom Limited by 904.2% in the first quarter. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer’s stock valued at $919,929,000 after buying an additional 3,782,991 shares during the period. Finally, Geode Capital Management LLC boosted its position in Broadcom Limited by 9.9% in the first quarter. Geode Capital Management LLC now owns 3,819,084 shares of the semiconductor manufacturer’s stock valued at $835,007,000 after buying an additional 343,635 shares during the period. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Shares of Broadcom Limited (NASDAQ:AVGO) opened at 239.62 on Monday. The stock has a 50 day moving average of $241.21 and a 200-day moving average of $214.99. Broadcom Limited has a 52 week low of $151.93 and a 52 week high of $256.78. The stock’s market cap is $97.43 billion.

Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period last year, the firm posted $2.53 earnings per share. Broadcom Limited’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities research analysts predict that Broadcom Limited will post $15.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 19th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Thursday, June 15th. Broadcom Limited’s dividend payout ratio (DPR) is presently -566.66%.

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Several research firms recently weighed in on AVGO. Vetr cut shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating and set a $260.93 price target on the stock. in a report on Monday. Mizuho restated a “buy” rating and set a $275.00 price target on shares of Broadcom Limited in a report on Monday, July 3rd. Royal Bank of Canada restated a “top pick” rating and set a $270.00 price target on shares of Broadcom Limited in a report on Friday, June 30th. Pacific Crest restated an “overweight” rating and set a $280.00 price target on shares of Broadcom Limited in a report on Wednesday, June 21st. Finally, Raymond James Financial, Inc. restated a “strong-buy” rating and set a $300.00 price target on shares of Broadcom Limited in a report on Friday, June 16th. One research analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Broadcom Limited has an average rating of “Buy” and an average price target of $258.37.

In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $253.41, for a total transaction of $7,602,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is currently owned by insiders.

Broadcom Limited Company Profile

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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